About a-team Marketing Services

A-Team Insight Blogs

GLEIF Extends LEI Validation Agent Scheme with Sparkasse Bank Malta and Diligencia

Subscribe to our newsletter

The Global Legal Entity Identifier Foundation (GLEIF) has added two validation agents to the Global Legal Entity Identifier System, bringing the global total of agents able to provide their clients with LEIs to 10. The additions are Sparkasse Bank Malta, a European bank offering corporate and private banking, investment, and custody services; and Diligencia, a UK-based provider of corporate intelligence and due diligence solutions in the Middle East and Africa (MEA).

GLEIF introduced the validation agent framework in September 2020, to enable banks and other regulated institutions to use their KYC and AML onboarding procedures to help clients obtain LEIs. J.P. Morgan became the first validation agent in November 2020.

Both Sparkasse Bank Malta and Diligencia partnered with Ubisecure, an LEI issuer, to become validation agents. Simon Wood, CEO at Ubisecure, says: “We have worked closely with the GLEIF and our validation agent partners to develop a good solution – an API first, automated platform that ensures agents can register LEIs without friction and at massive scale.”

Managing Director at Sparkasse Bank Malta, Paul Mifsud, says approval as a validation agent enables the bank to streamline its approach to client lifecycle management, enhance customer experience, and establish a foundation to create new value-added services for corporate clients.

In line with GLEIF’s objective to increase voluntary LEI adoption outside mandated use cases,  the validation agent role was designed for not only banks and financial institutions, but also organisations that performs relevant validation and verification practices using accurate data, based exclusively on primary sources.

Diligencia fits in here. Managing director Nouri Bakkali, comments: “There is enormous potential for the MEA region to lead the way in terms of LEI issuance growth as global investors seek the transparency, trust, and confidence needed to engage with markets such as Saudi Arabia and Turkey.”

Subscribe to our newsletter

Related content


Recorded Webinar: Solving the operations talent crisis

With financial services in the grip of the Great Resignation, operations – a function which has always found recruitment and retention of talent difficult – is facing challenging times. Business growth is a must, but with scaling comes the cost and complexity of additional headcount. How can you ensure that these constraints don’t hold your...


Bloomberg Employs ML and Industry-Implied Models to Increase Carbon Emissions Data

Bloomberg has increased its carbon emissions dataset to cover 100,000 companies. The dataset consists of company reported carbon data and estimates based on either a machine learning smart model or Bloomberg’s newly developed industry-implied model accompanied by a Partnership for Carbon Accounting Financials (PCAF) reliability score. “Greater precision in Scope 1, 2 and 3 carbon...


TradingTech Briefing New York

TradingTech Insight Briefing New York will explore how trading firms are innovating and leveraging technology as a differentiator in today’s cloud and digital based environment.


Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...